Liberia: Finance Minister ‘Struggles’ to Account for US$25M Allegedly Infused in the Economy - News Summed Up

Liberia: Finance Minister ‘Struggles’ to Account for US$25M Allegedly Infused in the Economy


Report by Lennart Dodoo, [email protected]The infusion of the US$25 million was announced in President George Manneh Weah’s first nationwide address on the state of the economy in July this year. True to the words of the commercial banks, Finance and Development Planning Minister, Samuel Tweah, disclosed in an interview with ELBC/LNTV last week that passing the US$25 million through the commercial banks would have made no impact. This, the Finance Minister partially admitted to when he said the team bought Liberian dollars from individuals in the ordinary communities as a means of infusing more U.S. dollars into the system. “When you talk about mop up, it means buying the Liberian dollars from the market. A direct mop up approach as adopted by the CBL in the use of the US$25 million, is susceptible to misuse and fraud, CePAR said.


Source: Front Page Africa November 05, 2018 00:33 UTC



Loading...

Loading...